Swansea-based bilingual enterprise learning venture 2B Enterprising has completed a second investment round from a syndicate of 10 business angels to support its growth plans. Led by Angels Invest Wales lead investor Ashley Cooper, the syndicate has invested £390,000, including a second round of funding of £125,000 from the Development Bank of Wales’ Wales Angel Co-investment Fund.
This brings the aggregate number of angel investors over the two funding rounds to 21. It follows a £400,000 equity round in November 2021 which helped the business fund a series of appointments - including Jayne Brewer as chief executive - and allow it to work with over 220 schools in less than 18 months.
The latest equity funding will enable 2B Enterprising to develop further class materials for older age groups for use by schools throughout Wales and England as well as recruit additional teaching staff to work alongside corporate partners to deliver the programme.
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The funding will also help 2B Enterprising to explore extending its core proposition beyond the classroom through cartoon animation of its the Bumbles of Honeywood book series. Established by enterprise educator Sue Poole, 2B Enterprising has created and introduced the Bumbles of Honeywood as an enterprise skills programme specifically for children aged 5-to-7 years old.
Developed by entrepreneurial business leaders and experienced educators with extensive input from teachers, the Bumbles of Honeywood features a series of illustrated books and over 120 activities that enhance the teacher’s toolkit and improve numeracy, literacy, digital and physical education skills alongside developing an enterprising mindset.
The 20-strong team has delivered over 480 in-class activity sessions attended by over 14,000 children in schools from Tower Hamlets to Haverfordwest, with 20% of these being Welsh language schools.
Jayne Brewer said: “Education needs to prepare young people for a rapidly changing future and the world of work. Our enterprise education programme teaches broader skills such as resilience, teamwork, communications and problem solving, all of which will help to prepare future generations of leaders and entrepreneurs.
“Our growth over the last 18 months is testament to the calibre of our resources and our team. Businesses want to partner with us because they recognise the benefits of developing ambition and enterprise in young people while schools appreciate the fun and interactive way in which we embed entrepreneurial learning. The on-going support of our investment partners is enabling us to make a real difference to thousands of young lives.”
Ashley Cooper, lead investor for the business angel investment syndicate, said: “With 21,328 primary schools in the UK, the primary education sector is valued at £35 billion p/a. The collective firepower of this, now 21 strong, syndicate means that 2B Enterprising can scale-up significantly with the roll-out of additional resources and investment in technology; expanding their reach across multiple platforms that will increase impact and develop wider visibility of our proposition.”
Angels Invest Wales investment manager Carol Hall said: “This follow-on investment will accelerate the growth of 2B Enterprising and help young people to understand the world of business and work. It’s a great example of how business angel syndicates can make a real difference to our economy and society by working together as a group of investors to support more businesses.”
One of the investors, founder and director Gambit Partners, Ajay Mistry, said: "We're proud to support 2B Enterprising. We believe that the current school system doesn’t develop entrepreneurial skills – and the 2B Enterprising programmes are a fantastic way to get children into the future mindset they will need. We look forward to seeing the positive social impact of this investment and the potential for future success."
The programme is funded by a unique Corporate Engagement Partnership Programme (CEPP) that involves local and national businesses partnering with schools to bring real life enterprise experience into the classroom. Existing partners include National Grid, SONY, Acorn, Vinci, Bluestone Resorts, Redrow Homes, University Wales Trinity St David and various housing associations.
The £8 million Wales Angel Co-investment Fund provides Welsh businesses with a key source of alternative finance through the encouragement of more active angel investment. The five year fund supports the creation of angel syndicates and networks across Wales by providing loans and equity up to £250,000 to investors looking for co-investment.
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